UBS’s Top Analyst Raises Nvidia (NVDA) Price Target to $205 as Q2 Earnings Near

Nvidia (NVDA) is seeing increased analyst optimism ahead of its Q2 2026 earnings, with UBS raising its price target to $205, citing robust demand signals from data centers and the potential for H20 chip sales in China to contribute 15% of future revenue. This bullish sentiment, supported by strong prior quarter growth and expectations for an earnings beat, underscores continued positive momentum for the stock, with Wall Street maintaining a consensus "Buy" rating and an average target of $196.65.

Analysis

Analyst sentiment for Nvidia (NVDA) is consolidating on a strongly bullish outlook ahead of its Q2 2026 earnings report. UBS analyst Timothy Arcuri has raised his price target to $205 from $175, maintaining a Buy rating and forecasting that the company will beat revenue forecasts by approximately $1 billion. This optimism is underpinned by what Arcuri describes as demand signals that are "as strong as ever," driven by momentum in data center partners planning growth with Nvidia's GB200 and GB300 chips. A significant new potential catalyst is the U.S. government's approval for H20 chip sales in China, which UBS estimates could contribute roughly 15% of future revenue. This positive forward-looking view is supported by Nvidia's recent performance in the quarter ending April 27, which saw revenue grow to $44.06 billion from $26.04 billion year-over-year. The broader Wall Street consensus reflects this view, with 34 out of 38 analysts rating the stock a Buy and an average price target of $196.65, suggesting a 12.12% potential upside from its current price of $175.40.

Key Decisions for Investors

• The strong analyst consensus and upward price target revisions, supported by robust data center and China-related demand signals, reinforce a bullish thesis on the stock heading into the August 27 earnings release.
• Investors should monitor the upcoming earnings report for a revenue figure that beats consensus, as projected by UBS, and for management commentary that confirms accelerating orders for the GB200/GB300 product lines.
• The potential contribution from H20 chip sales to China represents a key new variable; any guidance from management that quantifies this opportunity near the estimated 15% of revenue could serve as a significant positive catalyst.